Fidelity Magellan ETF (BATS:FMAG) Shares Shorted: Short Interest Up 305.9% in October

Fidelity Magellan ETF (BATS:FMAG) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 1,380 shares, an increase of 305.9% from the September 30th total of 340 shares. Based on an average daily trading volume, of 14,631 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s stock are short sold.

Fidelity Magellan ETF Stock Performance

BATS FMAG opened at $35.25 on Thursday. The stock has a market capitalization of $260.14 million, a price-to-earnings ratio of 34.77 and a beta of 1.13. The stock’s 50 day moving average price is $35.86 and its two-hundred day moving average price is $35.16. Fidelity Magellan ETF has a 52 week low of $30.49 and a 52 week high of $37.58.

Hedge Funds Weigh In On Fidelity Magellan ETF

A number of large investors have recently made changes to their positions in the company. Arkadios Wealth Advisors lifted its position in Fidelity Magellan ETF by 14.1% during the first quarter. Arkadios Wealth Advisors now owns 220,450 shares of the company’s stock worth $6,971,000 after purchasing an additional 27,299 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Fidelity Magellan ETF by 3.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 100,620 shares of the company’s stock valued at $3,700,000 after purchasing an additional 3,028 shares during the last quarter. Sigma Planning Corp bought a new position in shares of Fidelity Magellan ETF in the 3rd quarter valued at $2,077,000. Kestra Advisory Services LLC increased its stake in shares of Fidelity Magellan ETF by 15.5% in the 1st quarter. Kestra Advisory Services LLC now owns 40,172 shares of the company’s stock valued at $1,270,000 after purchasing an additional 5,381 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Fidelity Magellan ETF by 66.3% during the 1st quarter. Cetera Investment Advisers now owns 28,808 shares of the company’s stock worth $911,000 after buying an additional 11,489 shares in the last quarter.

Fidelity Magellan ETF Company Profile

The Fidelity Magellan ETF (FMAG) is an exchange-traded fund that is based on the S&P 500 TR USD index. The fund is an actively-managed, non-transparent ETF that provides exposure to fundamentally-selected firms located globally. The fund utilizes the Fidelity non-transparent model. FMAG was launched on Feb 2, 2021 and is managed by Fidelity.